Eastwood's version will be a remake of the 1937 film, and not the 1970's version that starred Barbara Streisand.

The film tales the story of an aging rocker who falls for a rising star. The screenwriter has reportedly based his character on Nirvana's Kurt Cobain, imagining how how he might have carved his own path through the music industry 20 years later.

To date Leonardo DiCaprio, Christian Bale and Will Smith have all reportedly turned down the role. Tom Cruise was also allegedly linked to the part for a time.

But Cooper is not necessarily a shoo-in. According to Variety 'there is no deal in place and Cooper has a very busy schedule.'

A busy schedule, indeed.

Cooper is currently gearing up for The Hangover Part III and David O. Russell's American Bullshit, among other projects, accruing to The Hollywood Reporter.

Cooper is also starring in four new films lined up for release soon including Silver Linings Playbook, The Place Beyond the Pines, The Words and Hit and Run.

Meanwhile Beyonce was cast in the female lead in January 2011. Filming was originally scheduled to begin in February, but the singer's pregnancy delayed the project.

Speaking about the role to Reuters earlier this year the star said: 'It's when I became a fan of Barbra Streisand's. And I then saw Judy Garland's version of 'A Star Is Born' and I realized every 20 to 30 years a new star is born and a new talent represents that generation and era - so I didn't think that I would ever get the opportunity to be the star.

'I met with Clint and I was so nervous and I know that it is the biggest opportunity of my life. I will work as hard as I can. Because I can't wait. And I am so happy that he trusts me and I am in good hands and I am so fortunate.'